• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Ecuador will sell animal feed to Colombia because of landslide
Alexis Mera gets pre-release after three and a half years in prison
Jorge Glas Unification of Sentences Granted
Ecuador declares illegal mining a threat to state security
International Reserves registered their highest level since the start of dollarization
Government denounces 28 candidates for links to drug trafficking
Constitutional Court dismissed the 7 members of the Council for Citizen Participation and Social Control
Ecuador imported the historic figure of USD 7,646 million in fuels
An Andean bear is released into its habitat after two years in captivity
Ecuador gets ready to vaccinate birds and counter avian influenza

This is how the differentiated VAT works with electronic money and credit cards

Posted On 02 Jun 2016

IVA-ECUADORTIMES-ECUADORNEWS

The new 14% VAT rate (Value Added Tax), set by the Law on Solidarity, in force since June 1, 2016 for a maximum period of one year, and published in the Official Gazette on May 20, established a return of up to 4% of the VAT for those who use electronic money to pay for purchases.

4 VAT points when paying with cash from the cell phone (electronic money).

– 1 VAT point when paying with the credit, debit or prepayment card.

How is an electronic money account activated?

People wishing to access this system must open an account of electronic money through their mobile phones.

– Dial *153 # from your cell phone.

– The system will ask if you want to activate an electronic money account.

– The system will ask if you know and accept the conditions for the use of the e-money account.

– Enter your ID number.

– Confirm your name and last name.

– Answer the questions of validation so that the system records your data and send you your password.

 

How to get electronic money?

 

– You must go to one of the financial institutions or authorized centers by the Central Bank with your identity card and physical money to credit it into your electronic money account.

 

– The system will validate the identification, will process the transaction and will send a message to your phone, confirming the payment.

 

Source: http://www.ecuavisa.com/articulo/terremoto/noticias/160841-asi-funciona-iva-diferenciado-dinero-electronico-tarjetas-credito

 

 

 

 

 

 

About the Author
  • google-share
Previous Story

A world power according to Glas, a malnourished country according to the global index

Next Story

Plan V magazine claims to have been ‘pulled off the air’

SEARCH

LATEST NEWS

Ecuador will sell animal feed to Colombia because of landslide

Posted On 27 Jan 2023

Alexis Mera gets pre-release after three and a half years in prison

Posted On 27 Jan 2023

Jorge Glas Unification of Sentences Granted

Posted On 27 Jan 2023
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net